Good morning. Intel Corp. may have a tough time filling the CFO vacancy left by the promotion of Stacy Smith to an operational role last month. The company needs someone with experience pivoting product portfolios, reducing head count and cutting costs after years of fast-paced growth, CFO Journal’s Tatyana Shumsky writes.

Intel isn’t alone. Chip makers Marvell Technology Group Ltd. and Qorvo Inc. also are looking for new CFOs. About one-third of semiconductor companies changed CFOs in the last 12 months, according to executive recruiter Korn/Ferry International. That is twice the rate for the largest 1,000 public and private U.S. companies that Korn/Ferry tracks.

“It’s difficult to find people qualified to do that role,” said Deepon Nag, an analyst with Macquarie Group. “The semiconductor industry is a very complex industry…and it requires someone who is familiar with all these parts.”

Berkshire, stow your cash away? Berkshire Hathaway Inc. investors are often as interested in the company’s till as its earnings, Richard Teitelbaum writes. The conglomerate said as much at its recent annual meeting, but investors may be more interested in the acquisitive oracle’s war chest. Cash and equivalents totaled $58.3 billion at the end of March down, 18.7% from the end of last year, thanks to its biggest-ever acquisition of Precision Castparts and hooking up with Duracell batteries.

THE DAY AHEAD

The Shanghai Disney Resort will officially open and welcome its first guests on June 16.

Canada and Saudi Arabia separated by a breeze, A literal shift in the wind in far-off Canada had far more impact on oil prices than a seemingly major move in top exporter Saudi Arabia. Once analysts got over the shock of Saturday’s news that the kingdom’s longtime oil minister Ali al-Naimi had been ousted, they focused on the wildfires that have taken about 1 million barrels of daily production offline near Alberta’s Fort McMurray, Spencer Jakab writes.

The humble dividend is reclaiming its rightful place as the arbiter of stock-market value. In three of the four biggest developed markets, shares offer a higher yield than the longest-dated government bond, and in the fourth—the U.S.—the dividend yield beats even a 20-year bond. Obvious it may be, but these popular assumptions about stocks don’t fit with the assumptions being made in the markets for bonds and for dividends themselves. Someone is getting it wrong, James Mackintosh writes.

Renaud Laplanche had a disclosure problem. He was the face of the online-lending industry, a telegenic French entrepreneur who argued the Internet would upend finance by allowing borrowers to connect directly with investors. On Monday, Mr. Laplanche was pushed out as the CEO of the firm he founded, LendingClub Corp., after the board said it found problems with its lending practices and what it called the executive’s lack of disclosure surrounding a personal investment. That cost the company about $1 billion in market value, and the questions around the sale of a relatively small batch of loans have now become deadly serious for the company.

The lawsuit trotting out salacious personal details about media mogul Sumner Redstone is over. But the drama at his $40 billion entertainment empire may be just beginning. A California judge on Monday tossed out a case challenging the mental competency of Mr. Redstone, a victory for the controlling shareholder of Viacom Inc. and CBS Corp, but it came at a steep price. During the six-month legal battle, thousands of pages of court documents made public particulars of the 92-year-old billionaire’s intimate relationships and family infighting. Even with the case thrown out after only one day of testimony, the corporate uncertainty is far from over.

Krispy Kreme Doughnuts Inc. will be acquired for about $1.35 billion by JAB Holding Co. The European investment fund with a fast-expanding stable of famous brands ranging from Caribou Coffee to Jimmy Choo shoes to Durex condom will take the Winston-Salem, N.C.-maker of hot, glazed doughnuts would be taken private in the deal. JAB, the money manager for Germany’s wealthy Reimann family, has quickly built up a global coffee juggernaut to challenge Nestlé SA. Earlier this year, a JAB-led investor group completed its acquisition of Keurig Green Mountain Inc. for about $14 billion. Last summer JAB paid roughly $5 billion for control of Mondelez Inc.’s coffee business. It also owns Peet’s Coffee & Tea, and Danish coffee-bar chain Baresso Coffee AS.

REGULATION

Regulators are ramping up a new approach in policing the $3 trillion hedge-fund industry. The aim is to focus on how fairly managers treat their investors. The tack has emerged in a series of recent investigations into the way hedge funds value their thinly traded holdings and how they respond when investors ask for their money back. Those nuts-and-bolts issues used to be on the back burner for officials at the Securities and Exchange Commission.

EARNINGS

The humble dividend is reclaiming its rightful place as the arbiter of stock-market value. In three of the four biggest developed markets, shares offer a higher yield than the longest-dated government bond, and in the fourth—the U.S.—the dividend yield beats even a 20-year bond. Obvious it may be, but these popular assumptions about stocks don’t fit with the assumptions being made in the markets for bonds and for dividends themselves. Someone is getting it wrong, James Mackintosh writes.

Renaud Laplanche had a disclosure problem. He was the face of the online-lending industry, a telegenic French entrepreneur who argued the Internet would upend finance by allowing borrowers to connect directly with investors. On Monday, Mr. Laplanche was pushed out as the CEO of the firm he founded, LendingClub Corp., after the board said it found problems with its lending practices and what it called the executive’s lack of disclosure surrounding a personal investment. That cost the company about $1 billion in market value, and the questions around the sale of a relatively small batch of loans have now become deadly serious for the company.

The lawsuit trotting out salacious personal details about media mogul Sumner Redstone is over. But the drama at his $40 billion entertainment empire may be just beginning. A California judge on Monday tossed out a case challenging the mental competency of Mr. Redstone, a victory for the controlling shareholder of Viacom Inc. and CBS Corp, but it came at a steep price. During the six-month legal battle, thousands of pages of court documents made public particulars of the 92-year-old billionaire’s intimate relationships and family infighting. Even with the case thrown out after only one day of testimony, the corporate uncertainty is far from over.

Krispy Kreme Doughnuts Inc. will be acquired for about $1.35 billion by JAB Holding Co. The European investment fund with a fast-expanding stable of famous brands ranging from Caribou Coffee to Jimmy Choo shoes to Durex condom will take the Winston-Salem, N.C.-maker of hot, glazed doughnuts would be taken private in the deal. JAB, the money manager for Germany’s wealthy Reimann family, has quickly built up a global coffee juggernaut to challenge Nestlé SA. Earlier this year, a JAB-led investor group completed its acquisition of Keurig Green Mountain Inc. for about $14 billion. Last summer JAB paid roughly $5 billion for control of Mondelez Inc.’s coffee business. It also owns Peet’s Coffee & Tea, and Danish coffee-bar chain Baresso Coffee AS.

The drive to oust President Dilma Rousseff is back on track, Bloomberg writes. Lawmaker Waldir Maranhao released a statement in the dead of night revoking his own call to annul impeachment sessions in the lower house. That puts the Senate back in the spotlight, with a vote on whether to put the unpopular president on trial still slated for Wednesday. If successful, it would temporarily remove her from office. Rousseff is charged with illegally using state banks to plug a hole in the budget.

Liberty Property Trust, a Malvern, Pa., real-estate investment trust, named Christopher Papa finance chief, effective June 1. He succeeds George Alburger Jr., who has been Liberty Property’s CFO for more than two decades and will retire, but remain with the company for the rest of the year to help with the transition. Mr. Papa is currently CFO of Post Properties Inc., an Atlanta REIT where he has been CFO since 2003. Mr. Alburger received 2015 compensation valued at $1.9 million, including a salary of $455,000, equity awards valued at $1.4 million and a $500 bonus. Its president and chief executive doesn’t receive a bonus, while other named executive officers receive $500 a year over the past few years, according to its proxy statement.

Post Properties said it will begin a search for Mr. Papa’s successor, and in the interim his duties will be handled by other executives, including Arthur Quirk, its accounting chief since 2001. Liberty Property didn’t immediately disclose Mr. Papa’s compensation package. Last year, Mr. Papa received compensation valued at $1.2 million, including a salary of $347,500, equity awards valued at $625,078 and a $247,500 bonus, according to Post Properties’ proxy.

The Morning Ledger from CFO Journal cues up the most important news in corporate finance every weekday morning. Send us tips, suggestions and complaints: maxwell.murphy@wsj.com. Get The Morning Ledger emailed to you each weekday morning by clicking here:.Follow us on Twitter @CFOJournal.

Content from our sponsorDeloitteCFO insight and analysis written and compiled by Deloitte

For some CFOs, information technology and its related costs can look like a black box, one that they might be reluctant to open. Meanwhile, as the pace of digital technology innovations quickens—along with its ability to disrupt business—CFOs are being inundated with technology requests, and differentiating them can be difficult. Charles Holley, an independent senior advisor to Deloitte, discusses how a top-down, strategy-first approach to evaluating technology requests can help CFOs filter which projects might make the most sense from a strategic and financial standpoint, given short- and long-term priorities.

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